Squash on the rebound as investors re-shape sport centres

FORMER professional squash player Todd Bowden has excited investors by developing a squash centre business model which successfully targets an untapped segment of the market – and he is playing his first pro game since 2001 to prove it.

The existing approach to squash has hit critical mass, but Mr Bowden has developed innovative business programs to revitalise squash centres and introduce the sport to new markets. 

Through Mr Bowden’s extensive knowledge of the game, he has analysed the market and has uncovered gaps which can be exploited for significant profit: wealthy business professionals and schools.

When cricket hit critical mass in recent years, the 20/20 version of the game was introduced to bring new people to the sport – and it succeeded. Now, Mr Bowden is shaking up squash to bring people back to the sport and attract first-timers.

“Squash is the perfect exercise for time-poor people so it’s ideal for high earners and business people,” Mr Bowden said.

“With that in mind, we have created a squash experience that delivers the type of social atmosphere around the courts that business people want. The potential for commercial returns is massive.”

Mr Bowden is seeking further investment in his profitable model which pushes past the outdated approach of state associations and government funding, an approach which he believes is flawed.

INTERNATIONAL GROWTH MODEL

In developing his new model, Mr Bowden worked with a number of clubs in the US and Europe, and investment banks like Goldman Sachs to ensure it was robust and profitable. He has also closely followed the rapid rise of tennis in China which has seen a massive uptake in youth participation and club membership become a highly sought status symbol for the wealthy, a concept he hopes to replicate here with squash.

As a former pro player and a successful entrepreneur, Mr Bowden knows the right balance between business and pleasure. Bowden’s popular Blu Health and Rackets Club in Moorabbin, Victoria, includes modern courts, a fully equipped bar, health facilities, retail and other services styled to be attractive to his target market.

“So many deals start through conversations outside the office,” Mr Bowden said. “Squash is a fun way to get some exercise and start those conversations.

“Think of business people playing a round of golf or taking a long lunch to talk business socially. They’re the sorts of people who’ll love squash.”

Like tennis in China, Mr Bowden has successfully tapped into schools with 200 kids from 10 schools already playing at his squash centre – and the numbers are increasing.

Between schools and the business community, Mr Bowden is struggling to keep up with demand at his club.

“Schools have never been more enthusiastic about getting kids fit,” Mr Bowden said.

“Because it’s a quick, highly energetic game, it’s perfect for schools. This is genuine grass roots stuff and is a real fire market for squash. It’s only going to go up.”

NEW SQUASH BUSINESS MODEL LAUNCHES

Todd Bowden is launching a new website this week www.bluhealth.com.au to promote squash’s resurgence and his business model, and he will play his first game of professional squash since 2001 at a PSA Tournament, the largest in Australia this year.

The tournament, to be held at the Blu Health and Rackets Club, will run from December 5–7 and will feature Bowden alongside current pro players from around the world such as Abdulla Mohd Al Tamimi (Qatar), Leo Au (Hong Kong), Ryan Cuskelly (Australia) and number one seed Mohd Nafiizwan Adnan (Malaysia).

This is the first event to be organised by Mr Bowden’s Blu Project Management’s event management division, which is set to expand to manage tournaments throughout Asia including Malaysia, Hong Kong and China.

Mr Bowden plans to sell rights to matches which he expects to be highly lucrative as the sport’s popularity continues its upward trend.

The upcoming tournament is a valuable opportunity for investors to see first-hand how he has turned squash into a profitable business venture.

Tournament play on December 6 and 7 will be followed by onsite cocktail parties where investors can learn more about investing in squash.

Mr Bowden has developed his squash rejuvenation plan from his versatile playing and management experiences. He  left Newcastle aged 20 to play pro squash in Belgium and Germany before settling in the United States as the professional squash player at Greenwich Country Club in Connecticut.

Mr Bowden’s commercial skills have been acquired over many years working in business and private clubs in New York, Europe and Australia. His sporting credentials beyond playing squash include training some of the world’s leading athletes in strength and conditioning and also being a professional triathlete and doubles squash player.

Blu Project Management is also an Executive Member of Victorian Leaders, the organisation helping to mentor and develop the new generation of leading companies based in Victoria.

www.bluhealth.com.au

www.vicleaders.com.au

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